re: Ann: Quarterly Activities Report and Appe...
"Yes I admit I got the cash position wrong. Foolishly I relied on the companies own forecast ... enough said??"
I commend you for admitting you got the cash position wrong, but I do not agree that you were foolish to "rely upon the companies own forecasts".
The reality is that you steadfastly maintained a negative and false position in the face of strong opposition to the contrary that the amounts shown in the forecasts were in fact already expended and that the company reserves were reduced accordingly, to the point where you actively promoted the false assertion that the company was almost insolvent and liable to go into either administration or liquidation as a consequence of this lack of funds.
You did not resile from this position over many weeks of postings by you, but in fact always maintained the position that the company was managed by people who's conduct was at worst criminal or at best incompetent.
To now try to slide out of such comments by saying that you only relied upon "the companies own forecast? is disingenuous to say the least. Simply because it was you that placed the robust interpretation upon the financial information supplied.
No one else, just you. And all in the face of being publicly informed that you were wrong.
Had you said ?"Yes I admit I got the cash position wrong. And I foolishly interpreted the companies own forecast incorrectly and was again wrong ?
The I would agree with you ?enough said"
In the absence of such unreserved apology, it is not enough to say ?enough said"
CB
CTP Price at posting:
39.0¢ Sentiment: Hold Disclosure: Held
